Apple Settlement Makes Qualcomm CEO Richer by $3.5 Million
Other Qualcomm senior executives will get increased bonuses as well. After settling a bitter multi-billion dollar legal battle with Apple, the CEO of US-based chipmaker Qualcomm received a hefty bonus of $3.5 million. Qualcomm CEO Steve Mollenkopf received 40,794 shares of Qualcomm stock, which works out to just under $3,501,757 at Friday's closing price of $85.84, CNBC reported. In an official filing with the US-based Securities and Exchange Commission (SEC), the chipmaker noted that the entire executive team at Qualcomm received bonuses for settling the legal war with the iPhone maker. The two tech giants locked horns in courts around the world over how much Qualcomm charges for the intellectual property inside of the chips that enable devices like the iPhone to connect to cellular networks. Apple settled the legal battle earlier in April at an undisclosed amount and as part of the deal agreed to use Qualcomm chips in its upcoming 5G-enabled iPhone, scheduled...